A letter to our consumers

The Next Chapter

A little over three years ago, the team at Aereo set out to build a better
television experience for the consumer. We began this journey because we were
frustrated with a system that we believed was broken and no longer served the
consumer. When it came to watching live television, the options were few, the
products available were cumbersome and didn’t fit our increasingly mobile lifestyle,
and costs were unreasonably high and rising.

With that in mind, we put our collective engineering power to work to create
an online technology that was simple, useful, and compelling, and provided
consumers with a true alternative to how they watch local live TV. That’s how Aereo
came to life.

Our engineering team created the first cloud-based, individual antenna and
DVR that enabled you to record and watch live television on the device of your
choice, all via the Internet. In less than two years, we went from drawings on a
napkin to launching Aereo’s technology in more than a dozen cities across the
country.

The enthusiasm we encountered was overwhelming. The sense of frustration
consumers expressed reinforced our mission. We knew we had touched a nerve, had
created something special, and had a built something meaningful for consumers.

But we encountered significant challenges from the incumbent media
companies.

While we had significant victories in the federal district courts in New York
and Boston and the Second Circuit Court of Appeals, the reversal of the Second
Circuit decision in June by the U.S. Supreme Court has proven difficult to overcome.
The U.S. Supreme Court decision effectively changed the laws that had governed
Aereo’s technology, creating regulatory and legal uncertainty. And while our team
has focused its energies on exploring every path forward available to us, without
that clarity, the challenges have proven too difficult to overcome.

Accordingly, today, we filed for Chapter 11 reorganization proceedings. We
also appointed Lawton Bloom of Argus to serve as Aereo’s Chief Restructuring
Officer during this period.

Chapter 11 will permit Aereo to maximize the value of its business and assets
without the extensive cost and distraction of defending drawn out litigation in
several courts.

We have traveled a long and challenging road. We stayed true to our mission
and we believe that we have played a significant part in pushing the conversation
forward, helping force positive change in the industry for consumers.

We feel incredibly lucky to have had the opportunity to build something as
meaningful and special as Aereo. With so many shifts and advances in technology,
there has never been a more perfect time to take risks, challenge the status quo and
build something special.

Thank you for all of your support. Your emails, tweets, Facebook posts and
letters have meant the world to us. We are incredibly grateful to have gone on this
journey together.